How low will the market go? (1/22/08 POLL)

Extend a Hand

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Tue Jan-22-08 02:45 AM
Original message

Poll question: How low will the market go? (1/22/08 POLL)

Edited on Tue Jan-22-08 02:46 AM by sad_one

http://www.nyse.com/press/1199101893583.html

Futures

North/Latin America
INDEX VALUE CHANGE OPEN HIGH LOW TIME DJIA INDEX 11,475.00 -631.00 12,130.00 12,140.00 11,464.00 02:31
S&P 500 1,255.30 -70.00 1,327.50 1,331.60 1,255.30 02:31
NASDAQ 100 1,744.50 -105.00 1,850.75 1,857.75 1,744.50 02:25

How low will we go?

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lurky

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Tue Jan-22-08 02:51 AM
Response to Original message

1. Or will the PPT drive prices back to 14000?

Hey, you never know these days. ;)

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Extend a Hand

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Tue Jan-22-08 02:54 AM
Response to Reply #1

4. When the market opens

we'll see what the PPT can do.

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Extend a Hand

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Tue Jan-22-08 02:51 AM
Response to Original message

2. Wow! I thought I was pessimistic

thinking a 200-500 pt drop. I'm still hoping for a plunge protection team magic trick. No defined benefit pension plan here :(

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MercutioATC

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Tue Jan-22-08 02:54 AM
Response to Original message

3. 200-500

The powers that be will prevent a bigger 1-day drop.

Look for 600-700 by week's end, though.

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Extend a Hand

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Tue Jan-22-08 02:56 AM
Response to Reply #3

5. That's kind of what I thought too

It sucks with the limited options in a 401k and no way to get it out. :(

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MercutioATC

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Tue Jan-22-08 03:01 AM
Response to Reply #5

6. Me too, but I switched to bonds in my 401k last week (been in gov't securities)

Bonds should do ok with rising inflation.

We seem to have stabilized at about -640 for now (for the Dow). My bet is -280 tomorrow.

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RuleOfNah

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Tue Jan-22-08 07:22 AM
Response to Reply #3

11. The prop failed on Friday.

I am going to guess that the powers that be couldn't stop the bad news weekend last Friday so they could be prepared to surrender up to 800 today, probably hoping for a 300 point drop or less. There is a lot of planetary pressure coming to bear.

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Dogmudgeon

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Tue Jan-22-08 03:43 AM
Response to Original message

7. Tomorrow is Profit-Taking Day!

I think the Dow Jones will rise substantially. But this won't be a permanent thing, just a response by the big finance houses to the doom-and-gloom driving small investors out.

Over the next few weeks, the recession will kick in with a significant DJIA loss. My mother saw her investment counselor today, and he's talking in terms of five years. She is braced to lose about 30% of her savings this year.

--p!

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MercutioATC

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Tue Jan-22-08 04:07 AM
Response to Reply #7

8. How does profit-taking result in a gain?

:shrug:

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Dogmudgeon

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Tue Jan-22-08 05:57 AM
Response to Reply #8

10. I got my jargon mixed up

I mixed up the buying/selling jargon.

Tomorrow (today) will still see an increase. The market will react in a contrarian manner for a short time.

Overall, the direction is down, but the American markets often act perversely after an international financial fall.

Of course, I could be wrong about this, too. Grain of salt and all that.

--p!

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lvx35

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Tue Jan-22-08 04:25 AM
Response to Original message

9. Soros says: Very low

http://www.thefirstpost.co.uk/people,601,soros-predicts-worst-recession-for-50-years,13683

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Celebration

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Tue Jan-22-08 09:39 AM
Response to Original message

12. Do you mean today?

Or long term?

I bet we hit a bottom today, short term. More pain in a few weeks. Just a guess.

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tuckessee

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Tue Jan-22-08 10:18 AM
Response to Original message

13. I sure hope you're prepared to give prizes.

I suggest the winners get Enron shares or a stack of old Weimar Republic paper notes.

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Zynx

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Thu Jan-24-08 11:29 PM
Response to Original message

14. I hope no one traded based on this poll.

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